First it was streaming services, then it was Girl Scout cookies. Now, inflation is hitting one of America's most popular Tex-Mex fast food restaurants too.
Chipotle Mexican Grill confirmed to USA Today that customers will soon see a "modest" increase in prices, marking the company's fourth price hike in just two years. Laurie Schalow, Chipotle's chief corporate affairs officer, told the outlet that the changes are intended "to offset inflation" and may impact menu options across the board, though the company has yet to determine which items will be impacted.
The last time Chipotle increased its prices was back in August 2022, when customers ended up paying $1 or more extra for the same menu items as before. The restaurant chain had previously raised prices by about 4% in June 2021 and then again in the first quarter of 2022.
Despite the price hikes in recent years, Chipotle reported a 13.6% increase in revenue in the second quarter of this year, bringing in about $2.5 billion. The company also opened 47 new restaurants, including 40 locations with a drive-thru Chipotlane.
The company's continued success and rising profits indicate that customers, at least for now, don't seem to be shying away from paying a little extra for their double-meat or guac on the side.
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